FINRA bars Former CFD Advisor Dana Vietor after Allegations of Unapproved Securities Sales
On March 23, 2020, The Financial Industry Regulatory Authority (FINRA) reportedly found that Vietor allegedly engaged in $3 million in sales of promissory notes to customers without disclosing and receiving approval from his member firms for each alleged private securities transaction. According to FINRA, Vietor, and his other business partners, were purportedly engaged in a start-up business venture that required funding. The promissory notes reportedly raised funds for entities associated with the business venture. Vietor purportedly received indirect selling compensation as a member of the management team. FINRA reportedly barred Vietor from associating with any FINRA member at any time.
According to FINRA, Dana Vietor (CRD #873129) was reportedly affiliated with13 firms during his career in the industry, including the following:
07/25/2016 – 11/13/2018, CFD INVESTMENTS, INC. (CRD#:25427), Dallas, TX
07/25/2014 – 07/27/2016, OAKBRIDGE FINANCIAL SERVICES (CRD#:16323), NISSWA, MN
06/19/2013 – 07/22/2014, CAPE SECURITIES INC. (CRD#:7072), IRVING, TX
CFD Investments in Dallas, TX reportedly permitted Vietor to resign after he allegedly “engaged in private securities transactions without providing information to the firm or seeking approval for the transactions.”. Vietor reportedly has nine customer complaints filed against him during his career in the securities industry, with three currently pending, according to FINRA. Allegations include “Fraud and non-disclosure, Negligent Misrepresentation, Breach of Fiduciary Duty, Negligence, Breach of Contract, Failure to Supervise/Respondeat Superior, and Violations of the Iowa Securities Act,” among others.
Potential Lawsuits to Recover Financial Losses
The White Law Group is investigating potential securities claims involving Dana Vietor and the liability his employers may have for failure to properly supervise his activities.
When brokers abuse client accounts or conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.
If you suffered losses investing with Dana Vietor, the attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against his former employers. For a free consultation, with a securities attorney please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois.